In it for the *right* reasons

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DAILY ENERGY NEWS | 05/25/2023

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Ka-Ching! It's all about the climate!

Bloomberg (5/24/23) reports: "First job announcement after Glick departs commission. Glick led power grid rulemakings, clashed with gas industry. Richard Glick, who departed the Federal Energy Regulatory Commission in January, announced Wednesday that he has started his own consulting firm with his former chief of staff to lobby on energy issues.bGlick, joining Pamela Quinlan, launched GQ New Energy Strategies, which aims to 'help clients understand and thrive in the shifting energy regulatory and policy environments,' according to a press release shared with Bloomberg Law. The firm’s services include providing insights on energy markets and the impact of regulatory proposals on a client’s business and advocating for beneficial policy and legislative outcomes. The release didn’t identify any clients."

"Europeans deserve a bright future. What the EU is offering will leave them cold and in the dark."

– James Woudhuysen, Spiked

If banning gas stoves is good and popular, why not take the legal route?

Epoch Times (5/25/23) reports: "Expert testimony before a House committee outlined flaws in the Biden administration’s gas stove tests and the potential illegality of the Department of Energy’s (DOE) upcoming rules for the appliances. The House Committee on Oversight and Accountability held a hearing to examine the administration’s 'regulatory assault on Americans’ gas stoves.' During the hearing, witnesses Matthew Agen, Chief Regulatory Counsel for Energy at the American Gas Association, and Kenny Stein, Vice President for Policy of the Institute for Energy Research, outlined problems with the way the Department of Energy was approaching their rulemaking process...According to the Institute for Energy Research vice president, the DOE’s rulemaking is 'yet another piece of this administration’s whole of government approach to targeting energy sources that it disapproves of for ideological reasons.' According to Stein, the DOE put together a test group of 21 gas cooktops with important features. The witness asserted that the agency has suggested standards so strict that only one out of 21 gas cooktops meets it. Stein also asserted that the DOE has not tried or told the public about any other gas cooktops that meet the proposed standard and have the necessary features. 'This is an obvious violation of the EPCA,' Stein said in support of his claim, saying that in order for the DOE to justify their standards, they have to achieve a 'significant savings of energy,' which he asserts the proposed regulations do not accomplish."

The Ds aren't serious about permitting reform. Their goal isn't net-zero emissions, it's net-zero energy produced.

"You'll own nothing and like it!" First Commandment, Davos.

Cars.com (5/22/23) reports: "The recent overhaul of the federal electric vehicle tax credit, which aims to make EVs more affordable, significantly reduced the number of eligible models. To take advantage of the savings, shoppers must choose from a relatively short list of vehicles that are made in North America and meet the new battery production and materials sourcing requirements. Following changes to the guidelines, a dozen electric cars qualify for the full $7,500 credit and even fewer are eligible for the partial $3,500. One alternative to buying an EV is to lease one, and some automakers are offering special deals on EV leases that mirror the credit.cOne benefit of leasing an all-electric is that it typically comes with a lower monthly payment compared to purchasing the same model, but shoppers should consider the trade-off: They’ll have to return the vehicle at the end of the lease without the equity and trade-in value that comes with buying a car. For some consumers, this may not be a concern since they choose to lease in order to get the latest tech and features every few years — and this is especially applicable to EVs as their technology, charging and range capability quickly evolves. When it comes to the potential for savings, leasing an EV can offer the benefit of extending the federal tax credit to a wider range of models in addition to other incentives, depending on the brand and vehicle."

Energy Markets

WTI Crude Oil: ↓ $72.33
Natural Gas: ↓ $2.35
Gasoline: ↑ $3.57

Diesel: ↓ $3.98
Heating Oil: ↓ $234.73
Brent Crude Oil: ↓ $76.43
US Rig Count: ↓ 748

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